Parallel Advisors LLC Invests $76,000 in Barrick Mining Corporation $B

Parallel Advisors LLC acquired a new position in Barrick Mining Corporation (NYSE:B) (TSE:ABX) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,633 shares of the gold and copper producer’s stock, valued at approximately $76,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Farther Finance Advisors LLC increased its stake in shares of Barrick Mining by 21.8% in the 1st quarter. Farther Finance Advisors LLC now owns 3,146 shares of the gold and copper producer’s stock worth $62,000 after purchasing an additional 563 shares in the last quarter. Sapient Capital LLC increased its stake in shares of Barrick Mining by 0.5% in the 1st quarter. Sapient Capital LLC now owns 114,572 shares of the gold and copper producer’s stock worth $2,227,000 after purchasing an additional 624 shares in the last quarter. Kestra Private Wealth Services LLC increased its stake in shares of Barrick Mining by 2.5% in the 1st quarter. Kestra Private Wealth Services LLC now owns 28,724 shares of the gold and copper producer’s stock worth $558,000 after purchasing an additional 710 shares in the last quarter. Nicholas Hoffman & Company LLC. increased its stake in Barrick Mining by 1.5% in the 1st quarter. Nicholas Hoffman & Company LLC. now owns 47,544 shares of the gold and copper producer’s stock worth $924,000 after buying an additional 716 shares in the last quarter. Finally, Edge Wealth Management LLC increased its stake in Barrick Mining by 6.1% in the 1st quarter. Edge Wealth Management LLC now owns 13,110 shares of the gold and copper producer’s stock worth $255,000 after buying an additional 755 shares in the last quarter. 90.82% of the stock is currently owned by hedge funds and other institutional investors.

Barrick Mining Stock Up 2.2%

B opened at $34.30 on Friday. The firm has a 50-day simple moving average of $25.91 and a two-hundred day simple moving average of $21.82. Barrick Mining Corporation has a 52 week low of $15.11 and a 52 week high of $36.10. The company has a market capitalization of $58.41 billion, a PE ratio of 21.57, a price-to-earnings-growth ratio of 0.59 and a beta of 0.28. The company has a quick ratio of 2.53, a current ratio of 3.21 and a debt-to-equity ratio of 0.14.

Barrick Mining (NYSE:B) (TSE:ABX) last released its quarterly earnings data on Monday, August 11th. The gold and copper producer reported $0.47 EPS for the quarter, meeting the consensus estimate of $0.47. Barrick Mining had a net margin of 19.99% and a return on equity of 8.19%. The business had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.60 billion. During the same quarter in the prior year, the firm earned $0.32 EPS. The business’s revenue was up 16.4% on a year-over-year basis. Analysts forecast that Barrick Mining Corporation will post 1.47 earnings per share for the current fiscal year.

Barrick Mining Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, August 29th. Barrick Mining’s dividend payout ratio is 37.74%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on B shares. Cibc World Mkts upgraded Barrick Mining from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 12th. Bank of America increased their price target on Barrick Mining from $29.00 to $34.00 and gave the stock a “neutral” rating in a research note on Friday, September 19th. BMO Capital Markets reiterated a “market perform” rating on shares of Barrick Mining in a research note on Monday. Royal Bank Of Canada increased their price target on Barrick Mining from $34.00 to $38.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, UBS Group increased their price target on Barrick Mining from $26.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, September 19th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Barrick Mining currently has a consensus rating of “Moderate Buy” and an average price target of $33.33.

Barrick Mining Company Profile

Barrick Gold Corporation is a sector-leading gold and copper producer.  Its shares trade on the New York Stock Exchange under the symbol GOLD and on the Toronto Stock Exchange under the symbol ABX.
 
In January 2019 Barrick merged with Randgold Resources and in July that year it combined its gold mines in Nevada, USA, with those of Newmont Corporation in a joint venture, Nevada Gold Mines, which is majority-owned and operated by Barrick.